WEBVTT 1 00:00:00.840 --> 00:00:03.720 This show is produced and hosted by Mark Webber. The 2 00:00:03.720 --> 00:00:06.400 show is sponsored by G three Aparo. I view's expressed 3 00:00:06.400 --> 00:00:08.880 in the following program are those of the sponsor and 4 00:00:08.960 --> 00:00:15.160 not necessarily the opinion of seven tenor or iHeartMedia. Who 5 00:00:15.279 --> 00:00:18.800 is Mark Weber. He's a self made business executive here 6 00:00:18.800 --> 00:00:21.480 to help you find your success, from the New York 7 00:00:21.519 --> 00:00:25.399 City projects to the Avenue Montaigne in Paris. His global 8 00:00:25.399 --> 00:00:29.320 success story in the luxury world of fashion is inspirational. 9 00:00:29.559 --> 00:00:30.519 He's gone from. 10 00:00:30.359 --> 00:00:32.960 Clerk to CEO twice. 11 00:00:33.359 --> 00:00:37.039 Mark is classic proof that the American dream is alive. 12 00:00:37.159 --> 00:00:41.359 And well, here's your host of Always in Fashion, Mark Weber. 13 00:00:41.439 --> 00:00:43.200 Mark Weber. Trade. 14 00:00:43.600 --> 00:00:46.560 That's all anybody wants to talk about right now. 15 00:00:46.600 --> 00:00:47.280 And I get it. 16 00:00:47.399 --> 00:00:51.520 We've all seen our net worth go down. But I've 17 00:00:51.759 --> 00:00:55.200 sold nothing. I believe in the companies I own. I 18 00:00:55.399 --> 00:00:58.479 believe that they're all well and they'll be doing well. 19 00:00:58.560 --> 00:01:01.240 So I haven't sold anything. I think therefore, I haven't 20 00:01:01.320 --> 00:01:05.040 lost money. None of you have lost money unless you're 21 00:01:05.079 --> 00:01:08.200 selling at a loss. And with that is a backdrop, 22 00:01:08.480 --> 00:01:10.959 we have to talk trade again. I can't believe it. 23 00:01:11.400 --> 00:01:13.560 We did it all last week. We've been doing it 24 00:01:13.599 --> 00:01:16.640 for a long time, but here we are. It's rational, 25 00:01:16.719 --> 00:01:20.359 it's big, it's the news of the day. But it 26 00:01:20.400 --> 00:01:23.680 was a fascinating experience that got me to agree to 27 00:01:23.680 --> 00:01:26.079 do this again. The other day, I was at a 28 00:01:26.159 --> 00:01:30.640 children's function, a luncheon, and I happened to walk over 29 00:01:30.760 --> 00:01:33.200 and see two little boys are sitting on the ground. 30 00:01:33.200 --> 00:01:35.319 They both have baseball cards. One of them is holding 31 00:01:35.359 --> 00:01:38.200 an Aaron Judge card. The other one has a Shohai 32 00:01:38.239 --> 00:01:41.480 Otani card. And it was amazing to watch because each 33 00:01:41.519 --> 00:01:44.439 one wanted the other's card, and they were talking about 34 00:01:44.439 --> 00:01:47.239 how they could trade, and whether or not they wanted 35 00:01:47.239 --> 00:01:49.319 to give up the card, whether they would be happy 36 00:01:49.319 --> 00:01:52.959 with the other one, And watching them discuss reminded me 37 00:01:53.159 --> 00:01:59.200 that fifty years ago, when I was born, I was slapped. 38 00:02:00.040 --> 00:02:02.760 I wanted my milk, and unless you gave me my milk, 39 00:02:02.840 --> 00:02:05.920 I wasn't gonna stop crying. We were negotiating, we were trading. 40 00:02:07.079 --> 00:02:10.560 I think about myself when I had trading cards in baseball. 41 00:02:10.639 --> 00:02:14.599 I wanted Mickey Manner. The other guy had Willie Mays. 42 00:02:15.120 --> 00:02:17.680 There's always been training. If little kids could do it, 43 00:02:17.719 --> 00:02:19.599 and they understand, don't you think the rest of us 44 00:02:19.639 --> 00:02:22.960 should be able to every time we walk into a restaurant, 45 00:02:23.080 --> 00:02:25.719 every time you walk into a clothing store, buy something. 46 00:02:26.199 --> 00:02:29.759 Every store you buy, anywhere anywhere you go is service, 47 00:02:29.840 --> 00:02:33.400 and it's a trade. I buy gas, it's a trade. 48 00:02:33.599 --> 00:02:36.879 You're offered services. You could accept it or not. You 49 00:02:36.879 --> 00:02:39.919 could pay the price or not. We're all traders. We're 50 00:02:39.960 --> 00:02:44.039 all experienced traders. You don't like it, you don't buy it, 51 00:02:44.199 --> 00:02:47.240 you walk away. We all decide whether or not what 52 00:02:47.360 --> 00:02:50.599 someone's offering is worth our money. And in business, that's 53 00:02:50.639 --> 00:02:54.199 what all we do, is trade. What is so confusing 54 00:02:54.280 --> 00:02:57.319 right now, and what I'm astounded is how messed up 55 00:02:57.319 --> 00:03:00.560 we are and how confusing the government is this. I 56 00:03:00.639 --> 00:03:02.599 don't think we have to be because what they're doing 57 00:03:02.639 --> 00:03:06.199 I think is right. We are right now. If you've 58 00:03:06.199 --> 00:03:09.280 been listening to the show the last few weeks, I 59 00:03:09.319 --> 00:03:13.400 am in agreement with what's happening. I believe there's a 60 00:03:13.439 --> 00:03:16.319 trade in balance and it can be fixed simply. I 61 00:03:16.400 --> 00:03:20.199 believe the tarage should be reciprocal. You tax me, I 62 00:03:20.400 --> 00:03:24.240 tax you make it an even number. I've been trading. 63 00:03:24.360 --> 00:03:28.199 I've been an international trader in negotiation for my entire career. 64 00:03:28.560 --> 00:03:32.240 I've been purchasing products for my adult life all over 65 00:03:32.280 --> 00:03:35.800 the world. I'm an expert, at least I was, and 66 00:03:35.879 --> 00:03:39.159 I always recognized that someone had something that I wanted 67 00:03:39.560 --> 00:03:42.000 and I was willing to pay for it. Whether it 68 00:03:42.039 --> 00:03:44.840 was a million dollars or ten million dollars worth of products, 69 00:03:44.919 --> 00:03:47.840 I could buy them. And it all was based on 70 00:03:47.919 --> 00:03:50.759 whether or not I had a choice. It's a big 71 00:03:50.800 --> 00:03:52.800 world out there. I didn't have to buy from anyone 72 00:03:52.800 --> 00:03:55.599 in particularly, but I had a choice of who knew 73 00:03:55.639 --> 00:03:57.879 what they were doing, what they made, whether the products 74 00:03:57.879 --> 00:04:00.240 were worth the money, the quality, whether I trust that 75 00:04:00.280 --> 00:04:03.199 they would delivering them time, and on and on and on. 76 00:04:04.080 --> 00:04:06.680 They could do anything I wanted to do, except where 77 00:04:06.680 --> 00:04:10.199 the government regulations were involved. The government has the right 78 00:04:10.280 --> 00:04:12.960 to stop trade with any country. The government has a 79 00:04:13.039 --> 00:04:15.639 right to assess therap. The government has a right to 80 00:04:15.680 --> 00:04:18.839 say we can't do business with a particular country. I 81 00:04:18.879 --> 00:04:21.279 don't remember now if it's still in place, but there 82 00:04:21.319 --> 00:04:25.800 was embargo. You couldn't buy from Miramar because their behavior 83 00:04:25.879 --> 00:04:28.439 in human rights. I don't know if that still exists, 84 00:04:28.439 --> 00:04:30.199 but I knew I couldn't go there. I couldn't do 85 00:04:30.240 --> 00:04:34.480 business there. We can't do business and Cuba against the rules, 86 00:04:34.519 --> 00:04:36.720 so you have to work within that, and there are 87 00:04:36.720 --> 00:04:40.800 limitations that are put on business. China used to be 88 00:04:40.959 --> 00:04:43.879 unfairly treated if you consider that quotas were put on 89 00:04:43.959 --> 00:04:47.199 their country. They couldn't explot as much as they wanted 90 00:04:47.240 --> 00:04:51.120 to export until they were members of the World Trade Organization, 91 00:04:51.360 --> 00:04:54.720 which if I remember collectly, Bill Clinton was in office 92 00:04:54.759 --> 00:04:57.879 at the time that he pushed that through. Now I 93 00:04:58.000 --> 00:05:01.839 understand all these limits and I worked around them. The 94 00:05:01.879 --> 00:05:05.639 government seemed to understand what they were doing. But we 95 00:05:05.759 --> 00:05:08.639 don't understand at the moment that the government has a 96 00:05:08.759 --> 00:05:12.519 right to make these decisions a trade and I will 97 00:05:12.560 --> 00:05:14.879 tell you this, this is not the first time trade 98 00:05:14.879 --> 00:05:18.519 has become political. It's always been about what makes the 99 00:05:18.560 --> 00:05:20.800 most sense for the best price wherever you want to be. 100 00:05:20.920 --> 00:05:24.319 But the government has always gotten involved with what we 101 00:05:24.399 --> 00:05:27.279 want to do. They set the rules. They have the 102 00:05:27.439 --> 00:05:32.480 greatest interest involved, the strategic interests. They would establish what 103 00:05:32.560 --> 00:05:36.040 countries we can import from and how many items we 104 00:05:36.079 --> 00:05:39.839 could buy from any given country you take political Turkey 105 00:05:39.879 --> 00:05:42.800 has always been a friend, but a friend with a 106 00:05:42.879 --> 00:05:48.120 question mark. They are living two lives. They are involved 107 00:05:48.720 --> 00:05:50.959 with one part of the world and involved with the. 108 00:05:50.920 --> 00:05:51.920 Other part of the world. 109 00:05:51.920 --> 00:05:54.240 But we are NATO and they've been our allies. But 110 00:05:54.560 --> 00:05:58.240 keep them happy. We've always given them most favored trading status. 111 00:05:58.720 --> 00:06:02.560 You could take countries like Bangladesh, who's always underprivileged and 112 00:06:02.639 --> 00:06:07.079 always third world. We gave them extraordinary rights as they 113 00:06:07.279 --> 00:06:11.439 and other developing countries part of the US government's decision 114 00:06:11.480 --> 00:06:15.199 on what makes important. Oh, having said this, there should 115 00:06:15.240 --> 00:06:18.800 be no surprise where we are today. Everything that was 116 00:06:18.879 --> 00:06:22.399 done was done with our eyes wide open. We sent 117 00:06:22.560 --> 00:06:25.199 people into China and told them we want to manufacture. 118 00:06:25.199 --> 00:06:27.199 We're going to teach you everything we know so you 119 00:06:27.199 --> 00:06:31.399 can manufacture those things what they need for our country. 120 00:06:31.600 --> 00:06:33.759 They stole nothing, we gave it to them. But now 121 00:06:33.759 --> 00:06:35.720 at a point where trade seems to be in the 122 00:06:35.759 --> 00:06:38.839 news and we're all confused. So I'm going to take 123 00:06:38.879 --> 00:06:42.680 this opportunity again a week later, a month later, a 124 00:06:42.720 --> 00:06:46.319 year later, to explain it again. I stated a couple 125 00:06:46.399 --> 00:06:48.879 of weeks ago, and I'm going to continue with today, 126 00:06:49.319 --> 00:06:54.480 let's talk trade. But first let's talk what is fair trade. 127 00:06:54.839 --> 00:06:58.079 And here's a revelation that again I've talked about many times, 128 00:06:58.160 --> 00:07:01.800 there is no fair in this world. There's no fair 129 00:07:01.839 --> 00:07:06.560 in life. There's no fair in anything. Fair is for kids, 130 00:07:06.759 --> 00:07:09.959 just like tricks is for kids. It's a made up concept. 131 00:07:10.360 --> 00:07:12.920 Nowhere as it's said in the world that fair is 132 00:07:13.000 --> 00:07:16.480 fair in the Declaration of Independence, it's not anywhere to 133 00:07:16.519 --> 00:07:19.160 be found in our constitution. There's no mention of the 134 00:07:19.199 --> 00:07:21.439 word fair. And if you ask me to give you 135 00:07:21.480 --> 00:07:25.560 a at home family discussion, is what's fair? I can 136 00:07:25.600 --> 00:07:27.120 tell you can only hope for the best. 137 00:07:27.519 --> 00:07:28.079 But if my. 138 00:07:28.360 --> 00:07:31.120 Sons and I live to be a thousand years old, 139 00:07:32.120 --> 00:07:35.720 the trade that relationship between us will never be fair. 140 00:07:36.319 --> 00:07:39.040 I have and will have done more for Jesse and 141 00:07:39.040 --> 00:07:42.560 my other son Jared, than they'll ever done for me. 142 00:07:42.959 --> 00:07:46.480 They cannot catch up. It's not possible. But whatever the 143 00:07:46.560 --> 00:07:52.000 relationship is, we've reached what we believe is a coexistence 144 00:07:52.439 --> 00:07:54.920 that we can get something from each other that makes 145 00:07:54.959 --> 00:07:58.800 sense in common sense. Unfortunately isn't so common in our 146 00:07:58.839 --> 00:08:03.000 familyse Jared, go to school, work hard, do the right thing, 147 00:08:03.000 --> 00:08:05.439 and I will support you as a father. Treat me 148 00:08:05.480 --> 00:08:08.079 with respect. I will support you as a father. 149 00:08:08.560 --> 00:08:12.800 All the question is can I come in Before I 150 00:08:12.879 --> 00:08:16.639 introduce you? I want to come in real quick. Hi, everybody, Hi, 151 00:08:17.040 --> 00:08:19.720 hold on, I can't sit back and hear this. All 152 00:08:19.759 --> 00:08:23.120 the times I help you with the printer, all the 153 00:08:23.240 --> 00:08:27.120 times I help you with your iPad, I have to say, 154 00:08:27.480 --> 00:08:31.000 that's value right there? No, I mean, my goodness. 155 00:08:31.480 --> 00:08:34.000 Did you ever feed me maybe formula food? 156 00:08:34.039 --> 00:08:35.639 Did you ever feed me from a bottle? 157 00:08:35.679 --> 00:08:37.120 Did you ever change my diaper? 158 00:08:37.399 --> 00:08:38.159 Have you ever met? 159 00:08:38.279 --> 00:08:39.480 Put you to sleep at night? 160 00:08:39.559 --> 00:08:41.120 Take you to games? Come on? 161 00:08:41.840 --> 00:08:43.679 How could you ever catch up with that? 162 00:08:43.720 --> 00:08:44.720 You can't? 163 00:08:45.480 --> 00:08:45.879 I don't know. 164 00:08:46.399 --> 00:08:48.559 I feel insulted. I feel like I'm a good son 165 00:08:48.600 --> 00:08:49.559 and I do a lot for you. 166 00:08:50.200 --> 00:08:53.360 That's my son, my co host Jesse Weber. Anyway, let 167 00:08:53.360 --> 00:08:56.039 me just finish where I am here. Common sense is 168 00:08:56.080 --> 00:08:58.279 in common, but here it's showing you don't want to 169 00:08:58.279 --> 00:08:59.840 look at it. You don't think you've done more for me, 170 00:09:00.000 --> 00:09:03.440 and I've done for you great. But here's what do 171 00:09:03.480 --> 00:09:03.879 you want? 172 00:09:04.039 --> 00:09:06.200 Is what you have to ask yourself in a nutshell? 173 00:09:06.279 --> 00:09:08.960 What do you want? What can you walk away from? 174 00:09:09.320 --> 00:09:12.200 Whoever has the power to walk away in the end wins. 175 00:09:12.679 --> 00:09:14.720 And the only people I want to talk to is 176 00:09:14.840 --> 00:09:18.480 people that are sitting across the table from me that 177 00:09:18.600 --> 00:09:22.320 weren't stupid, stupid people. The worst thing you can't negotiate 178 00:09:22.399 --> 00:09:25.080 him because they don't know right from wrong. But in business, 179 00:09:25.200 --> 00:09:28.120 there is no stupid. All the people across the table 180 00:09:28.159 --> 00:09:30.399 from you are smart and smarter than you, and you 181 00:09:30.480 --> 00:09:32.480 have to be on your game in order to make 182 00:09:32.519 --> 00:09:35.320 sure you're smart. Now, the only argument I ever want 183 00:09:35.320 --> 00:09:37.080 to get into, and the other side is in an 184 00:09:37.159 --> 00:09:38.720 indefensible position. 185 00:09:39.200 --> 00:09:40.600 And what you're looking. 186 00:09:40.279 --> 00:09:43.320 At right now, accounting for the world today and the 187 00:09:43.399 --> 00:09:46.559 trade policies that are put in place with our eyes 188 00:09:46.600 --> 00:09:49.879 wide open government to government, we don't like what we're 189 00:09:49.919 --> 00:09:53.840 seeing because it's indefensible the position over the years that 190 00:09:53.879 --> 00:09:57.840 we put ourselves in with our allies or our competitors. 191 00:09:58.159 --> 00:10:01.440 So Donald Trump is right for pressing the button and 192 00:10:01.480 --> 00:10:04.399 making this happen. There is no fare. But we could 193 00:10:04.480 --> 00:10:08.000 be smart, and we haven't been smart. Looking back to 194 00:10:08.120 --> 00:10:11.279 how maybe we got here. During the Vietnam War, we 195 00:10:11.279 --> 00:10:14.360 gave special status and special trade treatment to countries that 196 00:10:14.440 --> 00:10:16.799 helped us in the war. If you look at the 197 00:10:16.840 --> 00:10:19.759 war in North and South Korea back in the fifties, 198 00:10:20.120 --> 00:10:22.960 we took care of the South, We defended them and 199 00:10:23.000 --> 00:10:25.519 helped them fight off the North. And there were reasons 200 00:10:25.559 --> 00:10:27.480 for it, and there are reasons they have its special 201 00:10:27.519 --> 00:10:28.759 trade status with US. 202 00:10:29.399 --> 00:10:30.159 You could look. 203 00:10:30.000 --> 00:10:33.120 Back now and decide that anything you decided in the 204 00:10:33.159 --> 00:10:37.240 course of history doesn't make sense in today's times. But 205 00:10:37.279 --> 00:10:41.559 you can't put today's head on yesterday's decisions. And that's 206 00:10:41.600 --> 00:10:45.159 where I think Donald Trump is wrong. It wasn't stupid people. 207 00:10:45.200 --> 00:10:48.919 It was expeditious decisions that were made. You can't put 208 00:10:49.000 --> 00:10:53.840 today's head on yesterday's decision. But our reconciliation is due, 209 00:10:54.120 --> 00:10:57.200 and I support Donald Trump for what he's doing, but 210 00:10:57.240 --> 00:11:01.200 the execution is what's in question. All should we ask, 211 00:11:01.480 --> 00:11:03.679 all we should be hoping for, is they're smart. 212 00:11:04.039 --> 00:11:04.320 Now. 213 00:11:04.639 --> 00:11:09.000 The timetable had seamed off, but on Wednesday. On Wednesday, 214 00:11:09.039 --> 00:11:11.720 they realized there was no rush and they put a 215 00:11:11.840 --> 00:11:16.720 ninety day moratorium on just about every country in the negotiations. 216 00:11:16.960 --> 00:11:21.000 No tax increases success for China. However, China is our 217 00:11:21.080 --> 00:11:24.120 largest trading partner, and going at it with them head 218 00:11:24.120 --> 00:11:27.080 to head in the media is going to cause havoc. 219 00:11:27.639 --> 00:11:31.480 Negotiations need to take place on all of these major 220 00:11:31.559 --> 00:11:34.919 issues with all of our major trading partners. There's an 221 00:11:34.919 --> 00:11:39.440 imbalance of trade, there's a deficit in trade. It's logical 222 00:11:39.679 --> 00:11:44.799 it can be addressed. The needs to be a negotiation, 223 00:11:45.279 --> 00:11:46.960 and I'll continue in one second. 224 00:11:46.960 --> 00:11:48.120 I want to make another point. 225 00:11:49.120 --> 00:11:51.519 I basically have said what I need to say. Look, 226 00:11:51.559 --> 00:11:54.480 it's easy to renegotiate now. It's easy to look at 227 00:11:54.480 --> 00:11:57.200 what was having transpired over the last ten hundred years 228 00:11:57.240 --> 00:12:00.440 in terms of international trade and be critical. I like 229 00:12:00.559 --> 00:12:02.679 to believe at the time it was intilented, it made 230 00:12:02.759 --> 00:12:06.879 sense for all the right reasons. Strategic business, economic partnerships 231 00:12:06.879 --> 00:12:10.840 developed with countries we needed as allies, we gave them specialty, 232 00:12:10.960 --> 00:12:13.120 whatever the reasons why, I'd like to believe is done 233 00:12:13.159 --> 00:12:15.440 for the right reasons. Those agreements have been in place 234 00:12:15.519 --> 00:12:18.440 for far too long. The defforts have been growing far 235 00:12:18.480 --> 00:12:21.440 too big, and it's right that we are reclaiming the 236 00:12:21.480 --> 00:12:24.159 power of America. You know, we talk about NATO, which 237 00:12:24.240 --> 00:12:26.679 is the worst trade agreement ever made in the history 238 00:12:26.720 --> 00:12:30.039 of mankind according to the government, according to Donald Trump. 239 00:12:30.480 --> 00:12:33.120 But at the time it was put in place, it 240 00:12:33.159 --> 00:12:37.480 was to benefit trade on this continent between China, Mexico 241 00:12:37.519 --> 00:12:39.919 and the United States. It was put in place to 242 00:12:40.000 --> 00:12:43.879 bring trade back to this hemisphere between these three countries 243 00:12:44.080 --> 00:12:47.240 without duty, without tariffs amongst them, so we could afford 244 00:12:47.320 --> 00:12:50.279 to buy from each other rather than China, and on 245 00:12:50.320 --> 00:12:52.480 top of it, we were closer to each other, so 246 00:12:52.519 --> 00:12:55.600 it would have improved the operations. What went wrong It 247 00:12:55.679 --> 00:12:59.720 was ill founded that the standard of living and many 248 00:12:59.759 --> 00:13:03.000 of our countries and companies is very different than even 249 00:13:03.080 --> 00:13:06.879 Canada or certainly Mexico, and most of the business shifted 250 00:13:06.919 --> 00:13:09.960 outside the United States. So it's right to reclaim the 251 00:13:10.039 --> 00:13:11.120 power America. 252 00:13:11.240 --> 00:13:11.919 We are a. 253 00:13:11.960 --> 00:13:17.080 Huge purchasing nature, probably the largest global purchaser in the world, 254 00:13:17.080 --> 00:13:20.240 and with that strength and demands, we should ask for 255 00:13:20.320 --> 00:13:23.080 and get what we want, or more importantly, not what 256 00:13:23.120 --> 00:13:26.480 we want, what we need. We've got the leverage. Anytime 257 00:13:26.559 --> 00:13:29.600 I ever had the leverage, I knew I was going 258 00:13:29.639 --> 00:13:32.720 to win, they negotiate, I could walk away, they couldn't. 259 00:13:33.200 --> 00:13:35.399 Now's the time we need to be smart. We're fixing 260 00:13:35.440 --> 00:13:40.480 the timetable. The President created the opportunity to renegotiate, and 261 00:13:40.519 --> 00:13:43.879 that's what he's doing. The question is are we doing 262 00:13:43.879 --> 00:13:47.519 it intelligently. My view, it was the timetable. Now that 263 00:13:47.559 --> 00:13:50.080 we're clearing that up, it seems to make sense. We 264 00:13:50.120 --> 00:13:53.960 can make our position clear, set a realistic timetable that 265 00:13:54.039 --> 00:13:59.000 allows for our businesses and infrastructure to absorb change. Change 266 00:13:59.000 --> 00:14:01.799 what we're doing, move it to other countries, pick new partners. 267 00:14:02.360 --> 00:14:05.399 We needed to fix the deadline. I'm still worried about China. 268 00:14:05.440 --> 00:14:05.559 Now. 269 00:14:05.600 --> 00:14:08.799 I've been talking about trade for a year. In recent shows, 270 00:14:08.879 --> 00:14:11.879 I laid out a plan. I can say, go back 271 00:14:11.919 --> 00:14:15.200 and listen. It's the forbear of what Trump and the 272 00:14:15.279 --> 00:14:18.759 administration's doing. They actually are doing what I said before 273 00:14:18.799 --> 00:14:21.919 we did it. In twenty twenty, I was on CNBC 274 00:14:22.600 --> 00:14:26.200 television talking Trump's war. I said, he's possibly there's not 275 00:14:26.360 --> 00:14:29.600 going to be a war China. I love them for 276 00:14:29.639 --> 00:14:34.600 what they are. They're hardcore, negotiated. They're an unlimited, low 277 00:14:34.679 --> 00:14:39.480 cost workforce who's highly skilled, perhaps maybe the best in 278 00:14:39.519 --> 00:14:42.879 the world. Now, I'm a businessman, not a politician. I 279 00:14:42.960 --> 00:14:44.919 know what I need and I know what they can 280 00:14:44.960 --> 00:14:48.519 deliver with my help. That can manufacture great products at 281 00:14:48.559 --> 00:14:51.000 fair costs or if there is no such word as 282 00:14:51.039 --> 00:14:54.000 fair at good cost. It's perfect for my business. The 283 00:14:54.080 --> 00:14:57.919 politicians now are using all the leverage we have to 284 00:14:58.000 --> 00:15:02.200 affect change on the geopolitical landscape, and that's their job. 285 00:15:02.720 --> 00:15:04.440 We should be allies. 286 00:15:04.000 --> 00:15:05.679 Not enemies. Now here's a tip. 287 00:15:06.039 --> 00:15:09.080 This one's so simple and so stupid what we're doing. 288 00:15:09.919 --> 00:15:16.000 Stop disrespecting China in the media. We've made them our enemies. 289 00:15:16.039 --> 00:15:20.360 In the media, everyone jumps on China. Could you imagine 290 00:15:20.360 --> 00:15:22.120 if they did it to us and we were listening. 291 00:15:22.639 --> 00:15:25.919 You wouldn't like it either. You can't threaten them, You 292 00:15:25.960 --> 00:15:28.559 wouldn't want to be threatened. Don't put that back to 293 00:15:28.600 --> 00:15:30.679 the wall. You wouldn't want your back to the wall. 294 00:15:31.080 --> 00:15:35.200 Talk with them privately. You'll find we have common goals. 295 00:15:35.639 --> 00:15:41.120 You have concerns regarding their growing military present. Okay, mister President. 296 00:15:41.200 --> 00:15:45.320 Build more ships, build more airplanes, invest in technology, build 297 00:15:45.320 --> 00:15:49.159 a military now for practically the tenth time, and if 298 00:15:49.200 --> 00:15:52.919 not the one hundred times again. And balance the trade. 299 00:15:53.240 --> 00:15:56.600 We buy more than every other trading partner. If we're 300 00:15:56.600 --> 00:15:59.200 buying five hundred billion from you and you're only buying 301 00:15:59.200 --> 00:16:02.039 two hundred billion from me, I'm going to give you 302 00:16:02.080 --> 00:16:04.759 a list of those things I think you should buying 303 00:16:04.799 --> 00:16:06.720 from us, and I want you to work out a 304 00:16:06.720 --> 00:16:09.799 plan to make up the difference of the three hundred million. Now, 305 00:16:09.799 --> 00:16:12.080 if you tell me you're not as big a country 306 00:16:12.120 --> 00:16:15.639 as we are, and it's only right that we're buying 307 00:16:15.679 --> 00:16:19.320 more than you, I'll listen. If you're a smaller country, 308 00:16:19.360 --> 00:16:22.240 I don't expect Australia to buy as much from US 309 00:16:22.279 --> 00:16:25.519 as we buy from them. Perhaps I'm told we import 310 00:16:25.559 --> 00:16:28.600 twenty billion dollars of beef from Australia. They don't buy 311 00:16:28.600 --> 00:16:31.240 our beef. So we've got to figure this out. And 312 00:16:31.320 --> 00:16:33.159 where are they going to say, you don't want to 313 00:16:33.159 --> 00:16:37.559 buy beef, Okay, buy something else. So China buys less 314 00:16:37.559 --> 00:16:39.600 from us than we buy from them, that's because they've 315 00:16:39.639 --> 00:16:43.080 been smarter than us. We like what they have more 316 00:16:43.120 --> 00:16:46.639 than they like what we have. We should do something 317 00:16:46.679 --> 00:16:50.519 about it, come on, President Trump, But not in public forum, 318 00:16:50.639 --> 00:16:51.600 behind the scenes. 319 00:16:53.240 --> 00:16:53.559 Now. 320 00:16:53.600 --> 00:16:56.039 It's not China's fault now, or is it ever? 321 00:16:56.120 --> 00:16:57.080 It's our fault. 322 00:16:57.639 --> 00:17:00.679 We allowed this to happen. We made it very easy 323 00:17:00.720 --> 00:17:03.279 for them. And for years and years and years since 324 00:17:03.399 --> 00:17:06.319 nineteen ninety seven China went into Hong Kong. I think 325 00:17:06.440 --> 00:17:09.720 nineteen ninety was the start of the World Trade Organization, 326 00:17:09.799 --> 00:17:11.880 which freed them up to do whatever they needed to do. 327 00:17:12.279 --> 00:17:13.200 What have we done about it? 328 00:17:13.279 --> 00:17:13.599 Nothing? 329 00:17:14.400 --> 00:17:17.640 Because China at the moment is more industrialized than us. 330 00:17:17.720 --> 00:17:18.240 They have a. 331 00:17:18.240 --> 00:17:22.400 Manufacturing economy and mentality, and because they have an endlest 332 00:17:22.480 --> 00:17:26.160 of high people who work at lower wages comparable to 333 00:17:26.240 --> 00:17:28.640 our country and the rest of the world. They have 334 00:17:28.680 --> 00:17:31.880 a work ethic that's not to be believed. I used 335 00:17:31.920 --> 00:17:33.559 to go to Hong Kong and see them put a 336 00:17:33.599 --> 00:17:36.240 skyscraper up in less than a year. It would take 337 00:17:36.319 --> 00:17:38.240 us ten years here in the United States just for 338 00:17:38.279 --> 00:17:41.160 the permits, let alone building it. They get the permits, 339 00:17:41.160 --> 00:17:45.119 they get it done. China's people are industrios, their go 340 00:17:45.200 --> 00:17:49.160 to people. They get things done, and missed the president. 341 00:17:49.400 --> 00:17:53.240 Let's not forget all, if not all, so much of 342 00:17:53.279 --> 00:17:57.960 our clothes, our shoes, our tables, our chairs, our umbrellas, 343 00:17:58.000 --> 00:18:03.079 whatever what not are affordable. Americans can stretch their paychecks 344 00:18:03.119 --> 00:18:06.000 because of the hard work of the Chinese people. Now 345 00:18:06.039 --> 00:18:08.720 hold that thought, I want to go to Japan. I 346 00:18:08.839 --> 00:18:11.640 spent so much time in Jampan. Believe that your hero 347 00:18:11.759 --> 00:18:14.480 here had been to Japan fifty times. I walked the 348 00:18:14.480 --> 00:18:17.000 streets in Tokyo, I'd walked the streets of Osaka. I 349 00:18:17.079 --> 00:18:20.039 loved their culture, and I remember seeing very few Western 350 00:18:20.039 --> 00:18:22.799 people in Japan. Maybe they didn't like us, Maybe we 351 00:18:22.880 --> 00:18:25.119 just didn't feel comfortable there. I don't know what the reason, 352 00:18:25.400 --> 00:18:28.240 but I remember I did business there, but more relevantly, 353 00:18:28.720 --> 00:18:31.680 I always remember I didn't see American cars. I didn't 354 00:18:31.839 --> 00:18:36.640 understand it. Japanese cars were styled brilliantly, they were less 355 00:18:36.680 --> 00:18:40.880 expensive than American cars, and they had a reputation for excellent, 356 00:18:41.000 --> 00:18:45.079 reliable quality. At the same time, you couldn't say that 357 00:18:45.119 --> 00:18:48.400 for American cars, although our muscle cars in particular were 358 00:18:48.440 --> 00:18:52.440 worldly cool. And I remember at one point General Motors 359 00:18:52.519 --> 00:18:55.599 came out with a new Firebird, great styling, great callers, 360 00:18:55.640 --> 00:18:59.400 great price, and it had a reputation for liability. And 361 00:18:59.480 --> 00:19:01.720 as a turn, I was at a level in the company. 362 00:19:01.759 --> 00:19:04.319 I was entitled to have my personal car that the 363 00:19:04.359 --> 00:19:06.960 company would pay in sure for me and give me 364 00:19:07.039 --> 00:19:09.759 to drive as part of my compensation. And I got 365 00:19:09.759 --> 00:19:13.319 this Firebird and I loved it, and I remember saying 366 00:19:13.319 --> 00:19:17.119 to myself, why isn't this car or any other cars 367 00:19:17.160 --> 00:19:19.599 in Japan. So I was in Japan one day talking 368 00:19:19.640 --> 00:19:21.359 with some of the people I did business with, and 369 00:19:21.400 --> 00:19:25.519 I said, why don't you guys buy American cars? And 370 00:19:25.559 --> 00:19:29.240 they started to laugh politely, they're very polite, they said, 371 00:19:29.279 --> 00:19:31.559 when you came here General Motors, and we went to 372 00:19:31.599 --> 00:19:34.200 your trade fair, do you realize we drive on the 373 00:19:34.279 --> 00:19:36.799 right side. You drive on the left side, and the 374 00:19:36.839 --> 00:19:40.240 only cars you offered for sale were right were left 375 00:19:40.240 --> 00:19:45.839 handed driving cars. That's not globally responsible. We're losers. We 376 00:19:45.880 --> 00:19:48.799 weren't thinking right. Can you imagine that we're making cars 377 00:19:48.799 --> 00:19:52.160 that they don't work? It doesn't make sense. I remember 378 00:19:52.200 --> 00:19:54.960 I wrote an email to the CEO of General Motors 379 00:19:54.960 --> 00:19:57.400 when I came back. I was feeling big in those days. 380 00:19:57.440 --> 00:19:59.519 I used to be important. As you know, I'm not 381 00:19:59.559 --> 00:20:02.599 any law I said, what are we doing? I did 382 00:20:02.640 --> 00:20:07.240 get back a letter from someone in General Motors cycle bibble. 383 00:20:07.799 --> 00:20:09.839 It was an answer for a better world, but it 384 00:20:09.880 --> 00:20:12.400 was not the right answer. We weren't smart traders. We 385 00:20:12.400 --> 00:20:14.720 weren't thinking about when needed to be. Then the quality 386 00:20:14.799 --> 00:20:17.200 wasn't as good as the Japanese. As was a crisis. 387 00:20:17.480 --> 00:20:19.960 You want to blame the Japanese for making better cars 388 00:20:20.000 --> 00:20:22.599 than we. You want to make the Japanese for understanding 389 00:20:22.640 --> 00:20:24.039 we drive on the left side. 390 00:20:24.160 --> 00:20:24.319 Yeah. 391 00:20:24.480 --> 00:20:26.880 I don't know what has happened over the years, but 392 00:20:27.079 --> 00:20:30.039 she is. We needed to learn to become global. So 393 00:20:30.759 --> 00:20:33.400 if we didn't understand it, go to Hong Kong, go 394 00:20:33.480 --> 00:20:37.119 to the United's Kingdom, go to London. Mercedes figured out 395 00:20:37.119 --> 00:20:39.400 what to do. The Koreans figured out what to do. 396 00:20:39.599 --> 00:20:41.920 The Japanese figured out what to do. They drive on 397 00:20:41.920 --> 00:20:44.200 the right, so they bought they built cars that way. 398 00:20:44.359 --> 00:20:46.960 I want to go back to China. You can't blame 399 00:20:47.119 --> 00:20:52.119 China for having inexpensive labor versus the United States. You 400 00:20:52.200 --> 00:20:55.640 can't blame them for being competitive, even more competitive. Let's 401 00:20:55.680 --> 00:20:59.920